Litecoin, BAT, Compound Price Analysis: 16 April


Litecoin suffered from the recent wave of bearish pressure as it was stopped just short of the $300-mark, and could be set to retrace as far south as $260 and $244. Basic Attention Token was heading toward its range lows once more, while Compound moved almost vertically north. It could note a steep drop back towards the $530-level, especially if Bitcoin is unable to defend the $60,400-area.

Litecoin [LTC]

Source: LTC/USD on TradingView

A pitchfork tool highlighted some dynamic levels to watch out for. LTC broke out of its month-long symmetrical triangle over the past ten days but faced resistance at the $296-mark. Following the same, it fell rapidly and looked like it would test the median line of the pitchfork (red).

The MACD was a long way above zero, underlining the extreme bullish momentum of the past three weeks. LTC might be able to find support in the $260-area, but closing under the median line will likely foreshadow a move to the $244-level.

Basic Attention Token [BAT]

Source: BAT/USD on TradingView

BAT was trading within a range, with some candlewicks going to either side of the range boundaries. Nevertheless, BAT had some demand at the $1.4-area over the past week, and it has consistently been unable to climb past the $1.58-zone.



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